Direct Property News

April 19, 2017

Britain’s young professionals pay an extra £70,000 for a better location

Young professionals in the UK are paying an additional £71,000 to secure a home in one of the country’s 20 most popular postcodes, a new research has revealed. On average, a home in one of those desirable postcodes costs £735,874, whilst buying in surrounding areas will set you back £664,716, a difference of £71,158. Out of the 20 areas mainly selling to young professionals most are located in Greater London. The only exception to the rule are Didsbury in Greater Manchester and Reading in Berkshire. A total of 16 out of 20 areas on the list are located within London. Which probably doesn’t come as a massive surprise considering 52% of London’s working age population is […]
April 20, 2017

Has stability arrived in the mortgage market?

Recent analysis from Mortgage Brain has shown that the cost of most mainstream mortgages continues to show signs of stabilisation due to little movement seen in the market over the past three months. According to the report, the cost of the lowest rate five year fixed mortgage (2.55%) with a 90% LTV, for example, fell by just 1% since the start of January 2017. The cost of a 60% LTV two year fixed is also just 1% cheaper than it was at the start of the year, while a 90% LTV two and three year fixed and a 60% LTV five year fixed are all just 0.2% cheaper than they were three months ago. By comparison, […]
April 25, 2017

Is renting becoming a long-term solution?

Owning a home remains the dream of most Brits, but with prices constantly increasing and the supply shortage ever presented, is it maybe time to change that dream? For many Londoners, the idea of owning a home sounds amazing, and very far out of reach. The average house price in the capital sits somewhere around £800,000, the average annual salary is far from it, at around £40,000. And although this is a rather drastic example, things aren’t looking an awful brighter throughout the rest of the country. Britain’s housing affordability is low, no matter of the region you’re looking at. Apart from those who might be inheriting a respectable sum or who know they can bank […]
April 26, 2017

Brexit has affected younger buyers in the UK, but majority not deterred

Younger home buyers in the UK have postponed an upcoming property purchase due to concerns over the strength of the country’s post Brexit economy, a new survey has found. Some 63% of 18 to 24 year olds revealed that they have reconsidered buying a home due to losing faith in the economic outlook when the country leaves the European Union, according to the poll commissioned by property consultants Cluttons. The OnePoll survey also found that older people were not as concerned with 82.07% of those aged 55 saying that the Brexit decision hasn’t impacted their property purchase intensions at all. At a regional level, people in Oxford were the most concerned with the impact of a […]
April 26, 2017

How Theresa May’s General Election will impact the Investor

It’s been a roller coaster over the last twelve months for Britain. And it may remain one, at least for some parts of country. Investors, however, seem to not mind any of it too much. In less than one year the UK has managed to reinvent investment property taxation, decide to leave the EU, change head of state, start its departure from the EU and call for a new election. It might therefore be safe to say there’s a lot going on in Britain at the moment. For investors, some of these changes bring long-lasting effects with them that may affect their financial strategies significantly for some time to come. With the election campaign now under […]
April 27, 2017

Property asking prices hit record highs

Property asking prices in England and Wales have hit a record with sales at a decade high, the latest data from the UK’s leading property website shows. Values in April rose 1.1% (+£3,547) to £313,655, according to figures from the Rightmove property website. The figure exceeds the previous high of £310,471 set in June 2016, reports OPPToday. This month’s 1.1% rise is also weaker than the average 1.6% spring-boosted surge of the last seven years, slowing the annual increase to 2.2%, the lowest for four years. While the run-up to an election creates a degree of uncertainty and often a pause in activity, this strong set of figures should help mitigate pre-election jitters, says Miles Shipside, […]